304 Crores Central Excise demand against MAHINDRA & MAHINDRA LTD stayed by Supreme Court

By Vijay Kumar

WE reported the CESTAT order in 2010-TIOL-128-CESTAT-MUM. We ended our story with "Last heard, the company was on its way to the Supreme Court with an appeal. After all, a Rs.3.04 billion rupees Excise duty demand is not a small amount"

The Supreme Court on 08/02/2010 granted stay observing "we are hereby granting ad interim stay restraining the Department from taking any coercive steps till further orders particularly when considerable amount has been paid."